Industrial Organization: Market Power and Competition Policy

Basic economics teaches perfect competition, but modern markets are dominated by powerful firms. This course provides the foundational economic tools to analyze how firms gain and wield significant market power. By the end of this course, you will be able to dissect complex market structures, evaluate the incentives behind pricing and product decisions, and understand the rationale and impact of public policies designed to ensure fair competition and consumer welfare. What you'll learn: * Understand core concepts of market structure, efficiency, and the sources of market power in modern economies. * Analyze strategic interactions between firms, including pricing, output choices, and entry deterrence using game theory fundamentals. * Master models of product differentiation, advertising, and research and development strategies in imperfectly competitive markets. * Examine the economics of platform markets, network effects, and two-sided market dynamics. * Apply economic principles to evaluate mergers, vertical restraints, and potential predatory conduct. * Learn the foundational principles of modern antitrust and government competition policy enforcement. The course begins with foundational definitions of market power and market structure before moving into detailed analysis of strategic firm behavior. Finally, we explore the application of these theories to real-world competition policy and regulation. This course is designed for absolute beginners interested in economics, policy, or business strategy. No prior experience with industrial organization or advanced mathematics is required. Start reading today and gain a deeper understanding of the forces shaping modern commerce.